To enhance market liquidity and improve user experience, OKX will delist several perpetual futures contracts and margin trading pairs. The details are as follows.
Perpetual Futures Delisting Details
| Futures Contract | Delisting Time |
|---|---|
| WSMUSDT | 8:00–9:00 AM UTC, February 6, 2024 |
OKX will delist these perpetual futures contracts and terminate related trading activities. All relevant orders in the order book will also be canceled after delisting.
OKX will settle all positions for the above perpetual futures contracts at the average index price of the corresponding OKX index one hour before delisting.
If the index price shows abnormal conditions during the hour before delisting, OKX will adjust the final settlement price to a reasonable level.
The funding rate at 8:00 AM UTC on the delisting day will be 0. Therefore, funding fees for this period will not be included in the billing record.
Given that the market may experience sharp fluctuations before delisting, please manage your risk level by reducing actual leverage multiples or closing positions in advance.
Within the first 30 minutes after delisting, if you hold positions valued over $10,000 in the above perpetual contracts at the time of settlement, asset transfers from your trading account will be restricted.
Asset transfers will return to normal after 30 minutes. Order history and billing records will remain available after delisting. If you need to back up your data, you can download it through the report center on the OKX website.
To ensure the successful settlement of the above perpetual futures contracts during delisting, the following adjustments are made to our risk control parameters.
Price Limit Rule Adjustments
How the price limit is calculated:
| Duration | Maximum Price Limit | Minimum Price Limit |
|---|---|---|
| Within 10 minutes of contract creation | Index × (1 + X) | Index × (1– X) |
| After 10 minutes of contract creation | Min[Max (Index, Index × (1 + Y) + 10-minute average price difference), Index × (1 + Z)] | Max[Min (Index, Index × (1 – Y) + 10-minute average price difference), Index × (1 – Z)] |
Adjusted price limit rules:
| Time | X | Y | Z |
|---|---|---|---|
| 48 hours before settlement | 2% | 2% | 5% |
| 30 minutes before settlement | 1% | 1% | 2% |
Note: If there is a deviation from the contract price before that, the price limit will be adjusted according to market conditions.
Margin Trading Delisting Details
OKX will delist the following margin trading pairs:
| Margin Trading Pairs | Borrowing Stop Feature Time | Delisting Time |
|---|---|---|
| WSM/USDT | 6:00 AM UTC, February 1, 2024 | 9:00 AM UTC, February 6, 2024 |
OKX will suspend margin trading and flexible loans at the above delisting times, and open margin orders will be canceled. Each digital currency pair will take about an hour to suspend. Users with loans or collateral for the above digital currency pairs in margin trading and flexible loans must ensure repayment before the delisting times. Forced repayment will be triggered if unpaid loans remain due by the delisting time.
Please note: Prices may experience severe fluctuations. To avoid losses caused by forced repayment, we recommend that you stop trading the above pairs and close all underlying positions in advance.
Discount Rate Adjustments
| Asset | Before Adjustment | After Adjustment | ||
|---|---|---|---|---|
| Tier (USD) | Discount Rate | Tier (USD) | Discount Rate | |
| WSM | 0–50,000 | 0.5 | 0 | 0 |
| > 50,000 | 0 |
Overview of Discount Rates
In cross-margin mode, different currencies in cross-margin accounts can be converted to their USD value and used as margin. Due to significant differences in market liquidity for each currency, our platform calculates the actual USD value of some digital currencies based on specific discount rates to balance market risks.
👉 Learn more about discount rates and risk management
Frequently Asked Questions
What happens to my open orders when delisting occurs?
All open orders for the delisted pairs will be automatically canceled. You will not be able to place new orders for these pairs after the specified delisting time.
How is the settlement price determined for perpetual futures?
The settlement price is based on the average index price of the corresponding OKX index one hour before delisting. If abnormal market conditions occur, OKX may adjust the price to a reasonable level.
Can I transfer assets immediately after delisting?
If you hold positions valued over $10,000 at settlement, asset transfers may be restricted for the first 30 minutes after delisting. Transfers will resume normally after this period.
What should I do if I have active loans for delisted margin pairs?
You must repay any outstanding loans before the delisting time. Otherwise, forced repayment will be triggered, which may result in losses due to market volatility.
Why are discount rates adjusted for certain assets?
Discount rates are adjusted to reflect changes in market liquidity and risk. This helps maintain stability and protect users from excessive market exposure.
How can I access my trading history after delisting?
Order history and billing records remain available in your account. You can download these records from the report center on the OKX website for backup purposes.